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Put your trust in hyper-relevance

OVERVIEW

Companies’ efforts to personalize customer experiences (CX) are based largely on an understanding of routine behaviors and fixed attributes, such as age or address.

Globally, leaders are recognizing that personalization’s value is limited. Many are now focusing on delivering hyper-relevant CX, based on a deep understanding of the context in which consumers make purchasing decision. The value of investments in hyper-relevance grows over time because companies keep pace with consumers’ “non-constants” and changing circumstances.

Hyper-relevance requires two things: More personalized data about customers and the trust of customers. Leaders show how others can secure both.

KEY FINDINGS

NEARLY ONE THIRD OF CONSUMERS EXPECT COMPANIES WITH WHICH THEY ENGAGE TO KNOW MORE ABOUT THEM

Consumers around the world recognize they need to share personal data in order to get the experiences and offers they desire. In exchange, they expect companies to safeguard the information they share.

RECOMMENDATIONS

LOOK BEYOND THE TRADITIONAL CUSTOMER JOURNEY.Leaders identify and prioritize those areas where hyper-relevance can deliver added value and unexpected experiences.

RETHINK DATA.Leaders invest in data security and predictive analytics, collaborate with an ecosystem of stakeholders to capture real-time snapshots of consumers, and mine data in new ways.

EARN TRUST CONTINUOUSLY.Leaders eliminate anything that jeopardizes trust. They make digital trust sustainable by establishing a rigorous process and governance structure. Most importantly, they manage digital trust as the critical growth enabler it is.

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